JSW takes on ArcelorMittal and Vedanta in Essar acquisition

摘要

ArcelorMittal confirmed Monday it is among three parties to submit bids for the stricken Indian steelmaker, Essar Steel, following the scrapping of the initial bidding process. Essar's creditors, owed roughly $8 billion, called for a second round of bidding after the original Numetal and ArcelorMittal proposals were deemed to be non-compliant with the Insolvency Bankruptcy Code.